https://www.taxtmi.com/caselaws?id=9056 An agreement for sale of immovable property, read as a whole, was treated as a conditional contract of purchase rather than a mere construction arrangement. Payments made before delivery were regarded as purchase money in anticipation of conveyance, giving the buyer a charge under section 55(6)(b) of the Transfer of Property Act to the extent of the seller's interest. Although an unregistered release deed could not itself create or extinguish rights in immovable property under sections 17 and 49 of the Registration Act, it evidenced performance of the contractual conditions. That charge was held to be more than a personal claim and sufficient to amount to a right in the property for wealth-tax purposes on the valuation date. en-us Thu, 23 Aug 1973 00:00:00 +0530 Thu, 18 Jun 2009 19:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9056 An agreement for sale of immovable property, read as a whole, was treated as a conditional contract of purchase rather than a mere construction arrangement. Payments made before delivery were regarded as purchase money in anticipation of conveyance, giving the buyer a charge under section 55(6)(b) of the Transfer of Property Act to the extent of the seller's interest. Although an unregistered release deed could not itself create or extinguish rights in immovable property under sections 17 and 49 of the Registration Act, it evidenced performance of the contractual conditions. That charge was held to be more than a personal claim and sufficient to amount to a right in the property for wealth-tax purposes on the valuation date. Case-Laws Wealth-tax Thu, 23 Aug 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9056